Access Over Ownership And The On Demand Generation’s Consumption Habits

memeThe Netflix model of having access to items rather than owning them has been applied to dozens of industries, and Millennials are among the biggest adopters of this ever-growing trend. They don’t care as much about owning everything — whether it’s music, TV shows, or luxury dresses — as long as they can obtain these things when they need them. This mindset is what changed the music industry — YouTube is now the top way in which teens listen to music — and this attitude is influencing marketers who want to tap into Millennials’ purchasing, or rather renting, habits.

Rent the Runway isn’t new, but many female Millennials are continuously turning to it when they need a dress for a special occasion. Whether it’s prom, a school formal, their birthday, or graduation, teens and twentysomethings know that this method allows them to wear their dream dress at a more affordable price. This is valuable in that special occasion dresses aren’t worn often, and they can be pricey for something that then collects dust in their closet. However, if they rent a dress, solely for the situation in which they need it, the “runway” dress becomes more attainable. This also reflects a concept in the age of social media where every outfit is photographed and shared across one’s network. Many Millennials worry about their same clothes constantly being captured on Facebook and Instagram, but renting provides a solution in the form of a temporary expanded wardrobe.

Renting apparel also taps into showrooming, another shopping trend we’re seeing in that Millennials are visiting physical stores to scope out the selection, but not buying items in-person. Rather, they’re treating stores as if they were showrooms, and then going online or comparing prices before making purchases. Rent the Runway for example coincides…

 
 
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Millennial News Feed

Quote of the Day: “It wouldn’t be Thanksgiving without marathoning a television show.” –Female, 31, NV

The Pitches are back. Yesterday the first trailer for Pitch Perfect 2, the sequel to the cult hit 2012 aca-awesome movie, landed on the internet and the buzz is already huge. The trailer has been viewed over 6 million times in 24 hours. Pitch Perfect 2 will be out in May 2015, so fans have a while to wait, but as you can see in today's Instant Poll they'll be ready to watch. (Slash Film)

Last week, teen singer Lorde taught adults some new slang “the youthz” use when she tweeted out a compliment to Kim Kardashian. Lorde retweeted Kardashian’s internet breaking Paper cover with the comment “Mom,” which many not in-the-know interpreted as a criticism. But in reality saying “mom” to a celeb is a common compliment, meaning “adopt me/be my second mom/i think of you as a mother figure you are so epic.” (BuzzFeed)

Bailey’s is targeting Millennial women with a global campaign that “celebrates the ‘power of female friendship.’” To create a spot that would appeal to a new generation of women, the agency team and production team were predominantly female. The commercial features women around the world going out on the town together and the brand hopes it will show Bailey’s has “a meaningful role in a girls night out…[after] having had been hidden at home for far too long.” (The Drum)

The maker of the infamous Hot or Not site is back with a new, unexpected app for new parents and kids. His latest project, Cakey, is a free YouTube app that allows parents to create playlists of kid-safe videos, and choose from lists that other parents’ have shared. The simple app also includes an option that pauses video and says, “Okay, take a bite” for parents who are using Cakey to convince picky kids to eat. (Recode)

Two high schools in southern California were shut down this week thanks to threats that were posted on Yik Yak, the anonymous app that allows users to see messages from anyone in a 1.5 mile radius. Reportedly threats “of mass shootings, bombings, or other violence” made through the app is becoming a growing problem. (Mashable)

The Daily Instant Poll gives you a quick snapshot of how Millennials are weighing in on the topics that are making headlines, but there's more to our mobile network of 2 million Millennials than what makes the newsletter. Ten of our most recent featured Instant Poll results are available to Ypulse.com Silver and Gold subscribers, allowing them to compare the responses of various demographics. (Ypulse)

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